•Michael Saylor, the former CEO of MicroStrategy, believes that bitcoin is a major safe haven for traders and investors.
•He has invested in BTC since late 2020, which has cost his company over $1 billion due to the volatility of the crypto space.
•Saylor believes that despite its volatility, bitcoin is still the best performing asset over the past two and a half years.
Michael Saylor’s Belief in Bitcoin
Michael Saylor – the former CEO of MicroStrategy – is confident that despite all that’s happened over the past year or so, bitcoin is still a major safe haven for traders and investors. His belief in BTC stems from its ability to be universally acknowledged as a digital commodity with potential long-term growth benefits.
MicroStrategy Stock Linked To BTC
When it comes to MicroStrategy stock being linked to bitcoin’s performance, Saylor has commented on how it was affected by last year’s volatile crypto market conditions. Initially hitting an all-time high of about $68K per unit in November 2021 before ending up in mid-$16K range by 2022, this caused the entire space to lose more than $2 trillion in valuation. Despite this however, he remains optimistic about bitcoin’s future prospects.
FTX Debacle Helped Crypto Space
Discussing FTX recently, Saylor mentioned how while it was indeed harrowing at times, it ultimately helped move things forward within the industry. With institutional investors understanding now more than ever before that there could be money made by investing directly into cryptocurrency markets (regardless of price fluctuations), this could help ensure longer-term stability within the sector as well as bring more legitimacy to companies like MicroStrategy who have been heavily linked with bitcoin investments since late 2020.
Costs vs Benefits Of Investing In BTC
It’s clear that Michael Saylor still sees plenty of value in investing into bitcoin despite his company having lost more than $1 billion through such moves thus far. The big difference between now and when he first began investing however is an increased understanding amongst institutions regarding cryptocurrencies and their potential for lucrative returns if handled properly over time despite short-term price drops during bearish periods.
In conclusion then, Michael Saylor continues to believe strongly in bitcoin even though his company has suffered significant losses due to its investments into the digital currency since late 2020. He understands however that there are both costs and benefits associated with these decisions but ultimately sees enough potential value over time to continue holding onto such positions regardless of current market conditions.